Hope Enterprise Corporation to Receive Recognition at the Novogradac 2020 New Markets Tax Credit Fall Virtual Conference

SAN FRANCISCO—Hope Enterprise Corporation (HOPE) is proud to announce that it has been awarded a Novogradac Journal of Tax Credits 2020 QLICIs of the Year Award for its investment in Tippah County Hospital in Ripley Miss., using new markets tax credits (NMTCs). HOPE and Tippah County Hospital will receive recognition in the non-metro category at the Novogradac 2020 New Markets Tax Credit Fall Virtual Conference, Oct. 29-30.

Tippah County Hospital is a critical access provider that is building a new adjacent facility. The current facility is more than 60 years old and is in need of replacement. The new facility will help improve local medical talent and radically improve patient outcomes, and it will provide emergency health care to the residents of Tippah County and nearby Benton County, which does not have a hospital.

The development’s four community development entities—HOPE Enterprise Corporation, MuniStrategies, Capital One and Three Rivers Community Development Corporation—provided more than $25 million in NMTC allocation to help fund the new facility. Tippah County Hospital was also allocated $10 million in Mississippi state NMTCs.

Tippah County has needed a new critical access hospital for many years. The current facility is dated, beyond its useful life and no longer suited to provide top-quality medical care. After much consideration and discussion, a plan was approved by the Tippah Hospital Board of Trustees and the Tippah County Board of Commissioners.

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